Committee substitutes and reports PERS/TERS bill after sponsor removes subsidy changes
Senate Labor and Commerce reported a committee substitute for SB 198 after the sponsor removed sections that would have altered Medicare premium subsidies for retirees; the change aligns the bill with Alaska Retirement Management Board recommendations and the CS was reported with an attached fiscal note.
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Senator James Kaufman presented a recap of Senate Bill 198 on Feb. 6 and asked the committee to consider the committee substitute. Kaufman said the working CS removes sections that would have changed Medicare premium subsidies for retirees; those sections were removed after the ARM board intentionally chose not to recommend subsidy changes and because the actuarial impact had not been studied.
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